POSTED BY March 8, 2015 9:22 am NO COMMENTSON
After my education i left to overseas and leaving for past 10 years in overseas and so far i haven’t filled the income tax return in india. Transferred funds i kept some as nre deposits and some in saving account resident deposit around 30lac. Bank is automatically deduction TDS on my resident deposit. And last year i have constructed the building through nre funds, and for couple of months it was vacant and started letting from this jan 2015 onwards i received the rent of 1 lac so far. Also 4 months ago, i have become 10% partner in new family business firm (As it’s new start, there is no profit).
I am still in overseas and recently i have become oci. Kindly advise how to fill the income tax this year in my scenario? i guess i have to show only present FD’s in resident account and recieved income from rent and expenses on building and also firm partner declartion. Please advise anything more to declare, i guess past history no need to declare. let me know which ITR form i need to fill?
Appreciate your reply.